Investing in your Own Business for Success

What do some of the really successful businesses do that continue to help them get bigger and better year after year? Easy! They invest back in their business. They know they need to continually invest back into their own businesses so they will continue to grow and move upward. Then they go out and do it. In fact, many of the more successful businesses do this on a consistent basis. It’s simply a part of their business growth strategy to put back into their business as they earn more, and this is definitely something we highly recommend.

However, the most important strategy to doing this successfully is to make sure your “investments” will reap the results that will bring the most value and benefit. You might know some who are constantly talking about the latest and greatest classes they are taking, or software and systems they are using. That’s wonderful! Yet some keep going from one shiny object to another, but not with things that will truly help them grow or advance their businesses. Instead, they are continually starting new things and not acting on what they have learned or using what they already have. So know that while it’s a wonderful practice to invest back in your business, you need it do it the right way. Hopefully these tips will help.

A few ways to invest back in your business:

Continued training and coaching – Even experienced coaches and speakers acknowledge that one of their secrets for growth is to invest in continued training and coaching for themselves. You keep on top of your game when you do because you are constantly learning, and are out there with others who can inspire and motivate you to be your best. Plus, it’s an opportunity to learn some new techniques you might not be aware of. But bottom line, it gives you the support and accountability you need to grow.

There’s an added plus to doing this as well. By experiencing someone else’s coaching or training program, it may also help you with your own programs. When participating in someone else’s coaching or training program, you get personal knowledge of what worked for you and what didn’t. When you are the student, you can see what matters most to you, and then you can implement some of those techniques in your own training programs.

Join a Mastermind Group – Yes they are worth their weight in gold. You get to talk with others of the same or similar mindset, and share your goals and what you hope to accomplish short and long term. The key to success in growing with a Mastermind group is to find one that challenges you. Reach higher than you are now. Also, it’s important to find a group where you can be honest and truly share your challenges and weaknesses as well as your successes. So this year, seriously consider investing in a mastermind group that can help you grow in 2013 and reach beyond where you are today.

Invest in the necessary software and systems – You know your business best, so take the time to review your current systems and practices to determine what is needed to help your business run more effectively and take it to the next level. Do you need to invest in a good follow-up system like 1ShoppingCart or Infusionsoft so you can be more efficient and methodical when following up with prospects? Yes, it might incur a monthly fee, but sometimes you have to spend money to make MORE money and that’s part of business success. But before you buy, get expert advice and do your research. Ask experts who are familiar with these products to make sure it’s worth the investment, and the best fit for your business. One of the things we love doing is helping our clients choose the best systems and software for their businesses, before they invest…and then of course, taking over and handling their system and software needs once they do. Quit dreaming about the programs that will help you grow your business – and invest in them.

Invest in a team – Again, it goes back to, why are you doing it alone? You shouldn’t be. You won’t see the more successful, big-name speakers presenting and also sending out their own ezines. Why? Because they know they are only as strong as their team. They excel when their team excels. That’s why it’s so important for you to make it a point to review the long list of tasks you do on a day-to-day or regular basis and determine what you should delegate and what you should continue to do yourself. And then do it. We know you’ll be amazed at just how good it feels.

So this year make it a commitment to invest back into your own business. Take the steps now to grow, and truly see why others are experiencing more financial freedom, less stress, and more time for the more important things in their lives. Don’t forget you have the team to support you right here. Give us a holler and find out how we can make that happen.

In business since 1991, Terry Green is the founder/CEO/President of BizEase Support Solutions, an American-based, online marketing support company comprised of a team of talented professionals from around North America. BizEase excels at providing speakers and business coaches worldwide with seamless online marketing solutions, from setting up shopping carts and editing video, to writing blog posts and managing Social Media and PR campaigns. BizEase clients (who span five continents) take great joy in allowing the BizEase team to take care of the details so they can get back to doing what they do best! Click here to get our weekly tips ezine delivered to your inbox every Friday, with tips on plugins, apps, and tools to make you more productive today!

Comments

Investing in my business has ALWAYS paid off! And it hasn’t always been giant investments. Yes, I join high-level mastermind groups, and yes we spend a small fortune of software and computers … but some of the most lucrative investments in my business have been to attend live events and conferences … and even some targeted local networking groups.

Software, computers and other “business” expenses have always been a no-brainer to me, as they are essentially the tools-of-the-trade. Conferences, training and mastermind groups, however, usually need a bit more discussion and thought regarding whether they were sound decisions to move forward with. I always attend our industry’s annual Summit (coming up the end of April in Philly … woot!), and try to attend at least one non-VA conference a year if I can. I will admit I’ve made some poor choices regarding events to attend, but most of the time, they are just what I need to keep moving forward.

Each year I put aside a budget for this kind of thing. This year I am going to take a Training and Development course out of state (12 days on the beach!) that will dramatically help my business, plus allow me to connect with great “potentials.” I’m also planning a trip to a National convention for a group I am very active in. Again, more learning, exposure and networking!

I bit the bullet last year and joined a mastermind group that seemed a bit pricey, but was with a group of women who were my target market. I am so glad I did. It had such a huge impact on my business and was worth every penny!

Great advice Terry. So many people while running a business count pennies and don’t realize that sometimes you have to spend money to make money. While I owned my CPA practice I invested heavily in my business and it always made a huge difference. Now that I am starting a new business I just invested a good amount of money in some training that I know will take me to new heights. Yes, it is a little scary at times, but you have to follow your heart and jump sometimes.

I agree Kristi. I see this a lot with industry conferences … getting someone to commit to attending the first time is so difficult because all they can see is the cost of the event. Yes, it may take a little budgeting, but once they see how attending the conference impacts their business and what a huge boost in the arm it is, they always wonder why it took them so long, and vow never to miss another. By attending their industry conference, they are investing in their businesses to keep up-to-date with industry trends, learn technology, network with their peers … you name it. It’s always a little scary spending that heard earned money, but if spent wisely in the right way, will open the doors to more business and business growth.

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